CORPORATE FINANCE
博士前期課程経済学研究科 - 経済学専攻
MEEC7191
コース情報
担当教員: 川西 諭
単位数: 4
年度: 2024
学期: 秋学期
曜限: 月4, 火4
形式: 対面授業
レベル: 500
アクティブラーニング: あり
他学部履修: 可
評価方法
授業参加
小テスト等
詳細情報
概要
In this course you study basic theories behind Corporate Finance. The theories help you understand the role of financial transactions, the difference of stocks and bonds, how to evaluate stocks and bonds, how to allocate your assets, etc. This course is for graduate students from the Graduate School of Economics and the Graduate School of Global Studies, and Graduate School of Global Environmental Studies. IMPORTANT ・This course is conducted in English. ・Students are supposed to come with their own laptop PC with MS excel. For more detailed information, see the Moodle course page.
目標
The goal of the course is for students to understand the role of financial transactions, to understand the concept of time value fo money, to be able to evalutate investment opportunities, stocks, and bonds, to understand the portfolio theory, and to be able to find the efficient portfolio for given assets.
授業外の学習
Students are expected to study at home more than one hour to understand the concepts, and practice how to use MS-excel for financial studies.
所要時間: 190 minutes
スケジュール
- Part I: Understanding what is Finance and Corporate Finance(1) Introduction
- Part I: Understanding what is Finance and Corporate Finance(2) The definition of finance
- Part I: Understanding what is Finance and Corporate Finance(3) Experiment 1: Borrowing and Lending
- Part I: Understanding what is Finance and Corporate Finance(4) Experiment 2: Borrowing and Lending
- Part I: Understanding what is Finance and Corporate Finance(5) Discussion of Experiment
- Part I: Understanding what is Finance and Corporate Finance(6) The obstacles to make financial transactions
- Part I: Understanding what is Finance and Corporate Finance(7) Exam 1 on Part I
- Part II: Time value of money and Valuation under certainty (1) Various notions of interest rate.
- Part II: Time value of money and Valuation under certainty (2) Interest rates in Practice and Present value
- Part II: Time value of money and Valuation under certainty (3) Present values of cash flows and assets. Net Present Value.
- Part II: Time value of money and Valuation under certainty (4) Valuation of assets with multiple cash inflows. IRR: Internal Rate of Returns. Exercise.
- Part II: Time value of money and Valuation under certainty (5) Valuation of Bonds
- Part II: Time value of money and Valuation under certainty (6) Valuation of Common Stocks
- Part II: Time value of money and Valuation under certainty (7) Exercise on valuation of bonds and common stocks
- Part II: Time value of money and Valuation under certainty (8) Exercise on valuation of bonds and common stocks
- Part II: Time value of money and Valuation under certainty (9) Achievement test
- Part III: Risk management - Portfolio Theory and CAPM - (1) Introduction of Part III and Mathematical appendix
- Part III: Risk management - Portfolio Theory and CAPM - (2) Portfolio Theory: What is a portfolio? Portfolio ROR.
- Part III: Risk management - Portfolio Theory and CAPM - (3) Portfolio Theory: Expected value and variance of Portfolio ROR, 2 asset case with Numerical examples
- Part III: Risk management - Portfolio Theory and CAPM - (4) Portfolio Theory: 2 asset case, Numerical examples
- Part III: Risk management - Portfolio Theory and CAPM - (5) Portfolio Theory: 2 asset case, Real data examples
- Part III: Risk management - Portfolio Theory and CAPM - (6) Portfolio Theory: Summary of 2 asset case. Introduction to General case
- Part III: Risk management - Portfolio Theory and CAPM - (7) Portfolio Theory:General case Numerical analysis
- Part III: Risk management - Portfolio Theory and CAPM - (8) Summary of 3.2 General case -Finding the frontier hyperbola-
- Part III: Risk management - Portfolio Theory and CAPM - (9) CAPM 1 -Assumptions and the first main conclusion-
- Part III: Risk management - Portfolio Theory and CAPM - (10) CAPM 2 -The second main conclusion-
- Part III: Risk management - Portfolio Theory and CAPM - (11) Review exercise
- Part III: Risk management - Portfolio Theory and CAPM - (12) Achievement test
教科書
Textbook is not used in this course.
参考書
We will refer some part of the following textbooks. Readings 1 is basic and the most popular textbook. Readings 2 is an advanced textbook.
Principles of Corporate Finance -9th edition
著者: Richard A. Brealey, Stewart C. Myers, Franklin Allen
出版社: McGraw Hill Higher Education. 2008